25 current billionaires received their bachelor's degrees at
Penn, the most of any school on Wealth-X's list. The only other
colleges to produce similar numbers were Harvard University —
with 22 undergrad alum billionaires — and Yale University — with
20.

Although UPenn is home to the Wharton School, which is considered
to be a top business school for both undergraduate and graduate
students, Wealth-X president David Friedman told Business Insider
that the school's powerhouse reputation doesn't have a huge
impact on its ultra-wealthy alumni base.

"On the surface I think that's a contributing factor, but it's
definitely not a core driver" of UPenn's high number of
billionaires, Friedman said.

Rather, Friedman noted, UPenn's billionaires represent successes
in an array of fields, which suggests that the university isn't
focused entirely on channeling students into financial services
or technology.

To this point, Friedman mentioned three billionaires who got
their undergraduate degrees at UPenn — Tory Burch, Elon Musk, and
Steven Cohen — who made their money in fashion, technology, and
finance, respectively.